CA R SEETHARAMAN's Expert Profile

Queries Replied : 42595

I am a retired Executive Director/Finance of a Navratna PSU.

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Vijay Koradia says : gst input credit of truck
Respected Sir/Madam We purchase sand from the register/unregister dealer and then sell it to the registered dealer @5% GST with transportation (free of cost), it is our main business. In some cases, we had also provided only transportation service from where we collected GST @12% (forward charges) In this scenario can we claim ITC on the truck purchased for the supply of sand?

venu byravarasu says : Request help
Hi Sir, As you helped several folks on this web forum, reaching out for help. While filing tax returns, I see following errors: In Trading Account - (9Aiii) - mention both Narration and Amount. Amount can not be negative. Mandatory to fill the balance sheet (i.e. the sections "1. Sources Of Funds" and "2. Applications of Funds") as Profit and Loss a/c is entered. As I used margin from stock broker, can you plz suggest under what heads that need to be captured. BR Venu

gk says : IT Penal charges for non-parmnt of the LTCG tax
Respected Sir, Pranam! What sort of Penalty or Penal charges I should face (and to be done) for the non-payment of tax on LTCG by sale of Property (sold in 2020-October). Its about an amt of 16 lakhs rupees as LTCG, and 3.2 lks as tax, I guess. Thanking you, gk

Chandrasekhar Reddy J says : In compliance with Section 139A(5)(c) IT Act
Its applicable for companies also from 01-10-2021 and share notification sir

Santosh Phapale says : TDS On Property Sale
I complete 26QB process and ack number is generated successfully , online payment done successfully and BSR code and Challan number Generated Successfully , but when requesting FORM16B , website says -- "No data available for the specified search criteria". On Trace and OLTAS both. Could you help me why is this happening